Correlation Between Shelton Funds and Monteagle Enhanced
Can any of the company-specific risk be diversified away by investing in both Shelton Funds and Monteagle Enhanced at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Shelton Funds and Monteagle Enhanced into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Shelton Funds and Monteagle Enhanced Equity, you can compare the effects of market volatilities on Shelton Funds and Monteagle Enhanced and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Shelton Funds with a short position of Monteagle Enhanced. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shelton Funds and Monteagle Enhanced.
Diversification Opportunities for Shelton Funds and Monteagle Enhanced
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Shelton and Monteagle is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding Shelton Funds and Monteagle Enhanced Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Monteagle Enhanced Equity and Shelton Funds is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Shelton Funds are associated (or correlated) with Monteagle Enhanced. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Monteagle Enhanced Equity has no effect on the direction of Shelton Funds i.e., Shelton Funds and Monteagle Enhanced go up and down completely randomly.
Pair Corralation between Shelton Funds and Monteagle Enhanced
Assuming the 90 days horizon Shelton Funds is expected to generate 1.17 times more return on investment than Monteagle Enhanced. However, Shelton Funds is 1.17 times more volatile than Monteagle Enhanced Equity. It trades about 0.13 of its potential returns per unit of risk. Monteagle Enhanced Equity is currently generating about 0.09 per unit of risk. If you would invest 4,315 in Shelton Funds on August 31, 2025 and sell it today you would earn a total of 384.00 from holding Shelton Funds or generate 8.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shelton Funds vs. Monteagle Enhanced Equity
Performance |
| Timeline |
| Shelton Funds |
| Monteagle Enhanced Equity |
Shelton Funds and Monteagle Enhanced Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shelton Funds and Monteagle Enhanced
The main advantage of trading using opposite Shelton Funds and Monteagle Enhanced positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shelton Funds position performs unexpectedly, Monteagle Enhanced can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Monteagle Enhanced will offset losses from the drop in Monteagle Enhanced's long position.| Shelton Funds vs. The Hartford Healthcare | Shelton Funds vs. Vanguard Health Care | Shelton Funds vs. Prudential Health Sciences | Shelton Funds vs. Alger Health Sciences |
| Monteagle Enhanced vs. Ab High Income | Monteagle Enhanced vs. Federated Municipal High | Monteagle Enhanced vs. Morningstar Aggressive Growth | Monteagle Enhanced vs. Franklin California High |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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